Would someone not having a credit score be a red flag?

[Anonymous 1]

A credit score is how banks know how dependable you are
No credit and bad credit is seen as the same thing.
You have to have a good credit score to get a good interest rate.

Interest rate is how much you have to pay the bank for acquiring the loan.
If you have a good score, you can buy a house for $350,000, get an interest rate of 15% and end up paying $402,500 by the time the loan is paid off. If you have a bad credit score they’ll charge you a 29% interest rate and you’ll end up paying $451,500 by the end of the loan.


A good credit score will save you a lot of money. And this goes for ANYTHING that has a variable interest rate attached…. Houses, cars, phones, on the rare occasion medical debt, student loans…

He doesn't take out loans and would never want to so a credit score isn't something helpful for him.

[Inmybizz]

Not a red flag. If he’s doing his thing without credit cards or score that’s cool. However, I would think a zero credit score or no CC would hinder his ability to get a loan, rent cars and all the other things. How does he get around that?
What does he do to earn his money?

I have never been able to rent a car without a CC or hold a hotel reservation. Some businesses would not accept a debit card only a CC.

I switched cable services I was surprised I needed a CC and light credit check was done. It’s cable not a million dollar loan. Lol!

It has never hindered him in anything. He would just buy something outright and would never want to take out a loan.

That’s cool! What line of work is he in?

[Anonymous 3]

I’m shocked that this many adults don’t know how important a good credit score is.

I always thought it was super important but it really isn't if you never want to take out a loan or be in any debt.

Or get a good job, or get internet, or get cable, or rent an apartment, or make money by spending money, or have your purchases insured, or have the same identity protection that a credit card offers vs. a debit card, or have the same theft protection that a credit card has vs a debit card, or ever get security clearance should you need it, or get the better rates when traveling.
It’s extremely important; not just for debt and loans but for your ability to look trustworthy on paper.

[Inmybizz]

A credit score is how banks know how dependable you are
No credit and bad credit is seen as the same thing.
You have to have a good credit score to get a good interest rate.

Interest rate is how much you have to pay the bank for acquiring the loan.
If you have a good score, you can buy a house for $350,000, get an interest rate of 15% and end up paying $402,500 by the time the loan is paid off. If you have a bad credit score they’ll charge you a 29% interest rate and you’ll end up paying $451,500 by the end of the loan.


A good credit score will save you a lot of money. And this goes for ANYTHING that has a variable interest rate attached…. Houses, cars, phones, on the rare occasion medical debt, student loans…

He doesn't take out loans and would never want to so a credit score isn't something helpful for him.

That’s cool if he can live like that. What does he do for a living?

[Deleted User 2267]

A credit score is how banks know how dependable you are
No credit and bad credit is seen as the same thing.
You have to have a good credit score to get a good interest rate.

Interest rate is how much you have to pay the bank for acquiring the loan.
If you have a good score, you can buy a house for $350,000, get an interest rate of 15% and end up paying $402,500 by the time the loan is paid off. If you have a bad credit score they’ll charge you a 29% interest rate and you’ll end up paying $451,500 by the end of the loan.


A good credit score will save you a lot of money. And this goes for ANYTHING that has a variable interest rate attached…. Houses, cars, phones, on the rare occasion medical debt, student loans…

He doesn't take out loans and would never want to so a credit score isn't something helpful for him.

Ok… but he pays a lot more for basic living than someone with a good credit score does.

If he’s that wealthy, having a good credit score can help him keep more of his wealth.


Even something as basic as internet…or cell phone service…on paper hes living like someone who is just making it paycheck to paycheck regardless of what his actual financial reality is… sad to say they have to pay more for just about everything than someone who has healthy credit.





Think of it this way… if he opens up a bank account with nothing in it, then both spends $200,000 a year and funds the account with $200,000 a year… if he uses a debit card only his account will have $0 in it at the end of the year.

If he uses a credit card with a 3% cash back rate that account would have $6000 in it by the end of the year. Keep that up for ten years and you have $60,000 in savings and you can fund your kid’s entire college education just from the amount of money you were given back…

[Deleted User 1977]

Yes I have seen them. I have been to both houses multiple times and have seen the cars. I've also known him for a very long time but we didn't date until more recently.

He could be paying in cash, checks, etc for his things.

I would think you'd need a good credit score for both the homes he has as well as the cars. Maybe someone else has paid/is currently paying for these things?

He pays everything in cash including for his homes

That isn't a bad thing. Looks like he's trying to avoid debt and finance charges and at this point, it's his private business.

I don't see a red flag.

[Anonymous 4]

And what job does he have that allows him to purchase multiple homes and cars in cash constantly? You won't answer that.

[Inmybizz]

And what job does he have that allows him to purchase multiple homes and cars in cash constantly? You won't answer that.

I know.. I’ve asked twice. I’m going to go with cardiologist.

[Anonymous 5]

So what about hotels, airline tickets, streaming services, car rentals, etc.? Has he never done these things?

I would be suspicious and also concerned about future plans to travel or make purchases if this becomes a long-term relationship.

Because someone not having streaming services is a huge issue, right?

[Anonymous 5]

A credit score is how banks know how dependable you are
No credit and bad credit is seen as the same thing.
You have to have a good credit score to get a good interest rate.

Interest rate is how much you have to pay the bank for acquiring the loan.
If you have a good score, you can buy a house for $350,000, get an interest rate of 15% and end up paying $402,500 by the time the loan is paid off. If you have a bad credit score they’ll charge you a 29% interest rate and you’ll end up paying $451,500 by the end of the loan.


A good credit score will save you a lot of money. And this goes for ANYTHING that has a variable interest rate attached…. Houses, cars, phones, on the rare occasion medical debt, student loans…

He doesn't take out loans and would never want to so a credit score isn't something helpful for him.

Ok… but he pays a lot more for basic living than someone with a good credit score does.

If he’s that wealthy, having a good credit score can help him keep more of his wealth.


Even something as basic as internet…or cell phone service…on paper hes living like someone who is just making it paycheck to paycheck regardless of what his actual financial reality is… sad to say they have to pay more for just about everything than someone who has healthy credit.





Think of it this way… if he opens up a bank account with nothing in it, then both spends $200,000 a year and funds the account with $200,000 a year… if he uses a debit card only his account will have $0 in it at the end of the year.

If he uses a credit card with a 3% cash back rate that account would have $6000 in it by the end of the year. Keep that up for ten years and you have $60,000 in savings and you can fund your kid’s entire college education just from the amount of money you were given back…

Money isn't everything, and some people prefer their privacy.